State of Wyoming Cuts Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

State of Wyoming cut its holdings in Arlo Technologies, Inc. (NYSE:ARLO - Free Report) by 24.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,741 shares of the company's stock after selling 18,841 shares during the quarter. State of Wyoming owned 0.06% of Arlo Technologies worth $657,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ARLO. Barclays PLC boosted its stake in shares of Arlo Technologies by 234.5% in the third quarter. Barclays PLC now owns 185,281 shares of the company's stock worth $2,244,000 after acquiring an additional 129,889 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Arlo Technologies by 5.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 123,362 shares of the company's stock worth $1,380,000 after acquiring an additional 6,818 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Arlo Technologies by 9.6% in the fourth quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company's stock worth $124,000 after acquiring an additional 965 shares during the last quarter. KBC Group NV boosted its stake in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company's stock worth $69,000 after acquiring an additional 3,185 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Arlo Technologies by 9.1% in the fourth quarter. Swedbank AB now owns 1,200,000 shares of the company's stock worth $13,428,000 after acquiring an additional 100,000 shares during the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kurtis Joseph Binder sold 12,155 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $139,782.50. Following the transaction, the chief financial officer now owns 837,906 shares of the company's stock, valued at $9,635,919. This represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Brian Busse sold 6,593 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $75,819.50. Following the completion of the transaction, the general counsel now directly owns 612,743 shares in the company, valued at approximately $7,046,544.50. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,147,062 shares of company stock valued at $12,620,137. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Thursday, April 24th. Roth Capital set a $22.00 price target on Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum lifted their price target on Arlo Technologies from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th.

Arlo Technologies Trading Down 2.1%

NYSE ARLO traded down $0.29 on Friday, reaching $13.28. 481,657 shares of the company were exchanged, compared to its average volume of 879,034. The business's fifty day moving average price is $10.53 and its 200 day moving average price is $11.32. The stock has a market capitalization of $1.38 billion, a P/E ratio of -53.12 and a beta of 1.81. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64.

Arlo Technologies (NYSE:ARLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The company had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The firm's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities research analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Arlo Technologies Profile

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.